SOUTH AFRICA’S FINANCES
SUBSTANTIAL SURPLUS ANNOUNCED (Received August 11, 7.10 p.m.) ‘ CAPE TOWN, August 10. The Minister for Finance (Mr N. C. Havenga). in his Budget speech, announced a surplus for 1937-38 of £4,352,000, which was £2,852,000 above the estimate.
Imports for the first time exceeded £100.000,000. The current year’s revenue is estimated at £41,794.000, leaving a deficit of £ 1,052,000, which will be met from taxation adjustments. Provision is being made for large increases in defence expenditure. Mr Haveng,a expressed the opinion that the peak of the trade cycle had passed, and that various countries were suffering from either a mild recession or a severe depression. The turn of the tide in South Africa had been so slight that it had escaped, and while there was no cause for alarm, economists’ warnings must be heeded.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19380812.2.71
Bibliographic details
Press, Volume LXXIV, Issue 22478, 12 August 1938, Page 11
Word Count
135SOUTH AFRICA’S FINANCES Press, Volume LXXIV, Issue 22478, 12 August 1938, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.